QBO Chapter 10 Key Terms

Frage	Antworten
Financial Statements	they are reports used by investors, owners, and creditors to make decisions
Profits and loss	list income and expenses, summarizing the income a company has earned and the expenses incurred to earn the income
Balance sheet	list assets, and owner's equity, summarizing what a company owns and owes on a particular date
Statement of cash flows	list cash flows from operating, investing, and financing activities of a business
Management reports	are used by internal users (managers) to make decisions regarding company operations
Tax forms	provides information to federal and state tax authorities

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